Paloma Partners Management Co Invests $459,000 in Worthington Enterprises, Inc. (NYSE:WOR)

Paloma Partners Management Co acquired a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,077 shares of the industrial products company’s stock, valued at approximately $459,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV boosted its position in shares of Worthington Enterprises by 45.1% during the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 353 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Worthington Enterprises in the 2nd quarter worth about $57,000. nVerses Capital LLC acquired a new stake in shares of Worthington Enterprises in the 3rd quarter worth about $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Worthington Enterprises in the 3rd quarter worth about $85,000. Finally, Eastern Bank acquired a new stake in shares of Worthington Enterprises in the 3rd quarter worth about $121,000. Institutional investors own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Canaccord Genuity Group restated a “hold” rating and issued a $46.00 target price on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th.

Insider Transactions at Worthington Enterprises

In related news, CFO Joseph B. Hayek purchased 2,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the purchase, the chief financial officer now directly owns 168,875 shares in the company, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 37.50% of the stock is currently owned by company insiders.

Worthington Enterprises Trading Up 0.4 %

NYSE:WOR opened at $41.55 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 54.67 and a beta of 1.26. Worthington Enterprises, Inc. has a 52 week low of $38.24 and a 52 week high of $69.96. The firm has a 50-day moving average price of $40.50 and a two-hundred day moving average price of $45.53.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company had revenue of $257.31 million for the quarter, compared to analysts’ expectations of $296.05 million. During the same quarter in the previous year, the business earned $2.06 EPS. The company’s revenue for the quarter was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.64%. Worthington Enterprises’s payout ratio is currently 89.47%.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.